[brief comment on Tin in the SMM period] long and empty forces intertwined with tin in Shanghai and rose to the bottom after a sharp fall in tin.

Published: Jul 3, 2019 17:52

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SMM7 month 3 news: Shanghai tin main 1909 contract yesterday night trading 134980 yuan / ton, early trading due to long stop loss left the market quickly fell to the intraday low of 127780 yuan / ton, and then Lunxi overall maintained in the daily average of 129600 yuan / ton near the pressure shock, late trading due to short departure rose. After the opening of 130780 yuan / ton in early trading this morning, under the double influence of short position reduction and long buying, Shanghai tin fluctuated all the way up, and finally closed at 132500 yuan / ton, showing a negative line, with a long shadow line, located below all the EMA. It is expected that Shanghai tin will gradually return to the situation close to the fundamentals in the future, supporting around 131500 yuan / ton below.

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